The Washington-based firm said Friday that James Burr will become managing director of its global financial services group on Aug. 1. A spokeswoman for Wachovia said Greg Norwood will serve as interim treasurer as the bank searches for Burr's replacement.

Burr will be based in New York, the private equity firm said.

Wachovia also is searching for a chief executive after ousting Ken Thompson earlier this month amid rising loan losses and a series of miscues.

Among them, Thompson's ill-fated decision to buy mortgage lender Golden West Financial Corp. in 2006 for roughly $25 billion at the height of the nation's housing boom.

Wachovia's share price also has plunged more than 69 percent over the past year.

Its shares fell 70 cents, or 4.1 percent, to $16.22 in trading Friday.

(This version CORRECTS that Carlyle is Washington based). )